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What Is a High Ratio Mortgage?
What Is a Ratio Mortgage? In the context of conventional and high ratio mortgages, the ratio mortgage refers to the relationship between the size of the mortgage loan and the amount of the down payment the investor is willing to place when purchasing a property. It is also known as the loan-to-value ratio. The down payment is…
How Do Mortgages Work? Everything You Need to Know
Why Get a Mortgage? The price of a home is often more than what a single individual or household can save. Therefore, many choose to buy a home or an investment property by putting down a deposit of typically 20% of the home’s purchase price, and obtaining a loan for the remaining amount. This assistance…
financing | Homebuyers | mortgage | mortgages | Real Estate | Real Estate Market | Vancouver real estate
Are you financially ready to own a home
How to calculate how much you’re spending now, what you can afford and your future expenses. Are you financially ready to own a home? Look into these 5 calculations and questions before you meet with your broker or lender. QUALIFYING FOR A MORTGAGE There are 2 affordability rules that determine how much you can spend on housing without…
Laneway Houses: A Smart Investment for Canadian Homeowners
As Canada’s housing market continues to grapple with affordability issues, innovative solutions are emerging to help homeowners maximize their property value and cash flow. One such strategy gaining traction is the construction of laneway houses—small, secondary homes built on the same lot as a primary residence, often facing a back lane or alley. This approach…
BC Home Flipping Tax
If you’re a buyer considering purchasing a property for the short-term or a seller looking to sell within the first 730 days of ownership, there’s an important new tax you need to know about. Starting January 1, 2025, the BC Home Flipping Tax will apply to certain property transactions, and it’s important to understand how it…
Buying a New Home: 10 Mistakes to Avoid
WARNING: Buying a new house or a condo from the developer’s sales office is always very exciting, but if you are not very familiar with the whole process, it might cost you THOUSANDS of $$$ and many legal problems. Remember that the new development sale offices are established by the developer, and the agents working there are…